Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Demovictory9

(32,498 posts)
Fri Feb 15, 2019, 08:03 PM Feb 2019

Former Enron CEO Jeffrey Skilling released from prison after 14 years served

Former Enron CEO Jeffrey Skilling has been released from prison and now resides at a halfway house, Houston's Chron reported on Thursday.


The 64-year-old Skilling drew a 24-year prison sentence and $45 million fine in 2006 after being found guilty of 18 counts of fraud and conspiracy and one count of insider trading. His sentence was cut from 24 years to 14 years five years ago.

Skilling was convicted of deceiving investors, employees and government regulators in an accounting scandal that revealed Enron to be little more than a house of cards.

----------------

Enron became one of the world's dominant energy companies before going bankrupt in 2001. Its collapse at the time was the largest U.S. bankruptcy and caused the dissolution of Arthur Andersen, one of the country's largest accounting firms.

Enron founder and chairman Kennth Lay was convicted along with Skilling, but he died of a heart attack six weeks later, while former Enron Chief Financial Officer Andy Fastow was released after about five years in prison.

https://www.cbsnews.com/news/former-enron-ceo-jeffrey-skilling-released-from-prison/

18 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Former Enron CEO Jeffrey Skilling released from prison after 14 years served (Original Post) Demovictory9 Feb 2019 OP
He should have served the entire 24 years. Honeycombe8 Feb 2019 #1
Yes! empedocles Feb 2019 #7
his son died of overdose while he was in prison..so maybe his life isnt so great now Demovictory9 Feb 2019 #9
It's not what it once was. He's older and out of shape. Honeycombe8 Feb 2019 #17
There's probably a job waiting for him MontanaMama Feb 2019 #2
Meet Trump's new Energy Czar. nt TeamPooka Feb 2019 #3
dont give trump ideas Demovictory9 Feb 2019 #10
Ooooh. There you go...OR MontanaMama Feb 2019 #11
My exact same thought. sinkingfeeling Feb 2019 #13
This is back when they used to jail executives. octoberlib Feb 2019 #4
Yes, bdamomma Feb 2019 #5
the wells fargo woman..head of the unit that opened bank accounts without authorization Demovictory9 Feb 2019 #12
+1 uponit7771 Feb 2019 #6
some execs. there were a bunch of enronees who got away with their loot Demovictory9 Feb 2019 #8
We still jail executives - plenty of them. riverine Feb 2019 #18
Nope he has go back in The Truth Is Here Feb 2019 #14
One of the lawyers bdamomma Feb 2019 #15
He deserves life Johnny2X2X Feb 2019 #16

Honeycombe8

(37,648 posts)
1. He should have served the entire 24 years.
Fri Feb 15, 2019, 08:06 PM
Feb 2019

He ruined lives. Enron employees lost their retirement accounts, and some committed suicide. But he made sure he sold his stock before the employees found out.

Honeycombe8

(37,648 posts)
17. It's not what it once was. He's older and out of shape.
Sat Feb 16, 2019, 08:37 PM
Feb 2019

He had been a slim, handsome man.

But that's not punishment. Prison is punishment. He should have served the entire 24 years. His fraud caused the suicide of people who worked at Enron, when they lost everything. He intentionally sold his stock before they let the news break about the collapse of Enron. The employees had been paid in bonuses and such with Enron stock, all of which disappeared after the news broke.

Demovictory9

(32,498 posts)
12. the wells fargo woman..head of the unit that opened bank accounts without authorization
Fri Feb 15, 2019, 08:35 PM
Feb 2019

she retired with her loot

 

riverine

(516 posts)
18. We still jail executives - plenty of them.
Sat Feb 16, 2019, 08:47 PM
Feb 2019

For crimes that is.

There is a strange contingent of crazies who think banking is criminal though. I don't get that.

Johnny2X2X

(19,288 posts)
16. He deserves life
Fri Feb 15, 2019, 08:48 PM
Feb 2019

This guy’s actions robbed thousands of regular workers of their livelihoods and retirements. There are hard working people who lived in poverty because he swindled then.

Latest Discussions»General Discussion»Former Enron CEO Jeffrey ...